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Highest Since Early August

AUD

AUD/EUR sits at its highest level since early August after rising ~0.6% yesterday as lower US Tsy Yields and firmer metals saw the AUD outperform in the G-10 space.

  • In early trade on Friday we sit at €0.6085/90, ~4% above the mid-August cycle low.
  • Bulls now look to target the high from Aug 1 at €0.6115 and the 200-Day EMA which comes in at €0.6165. A break through here opens the high from 15 June at €0.6310.
  • On the downside bears focus on the 20-Day EMA (€0.6027), a break of the measure opens 5 Sep low (€0.5919) and cycle lows (€0.5863).

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